Bowlero Corporation

Bowlero Corp. Opens Lucky Strike Miami

Retrieved on:

Monday, March 25, 2024

Sports, Bowling, General Entertainment, Other Entertainment, Entertainment, Bowlero Corporation, Growth, VIP, Corporation, Associate, Food, Miami Heat, Heart, Drug

Bowlero Corporation (NYSE: BOWL), the global leader in bowling entertainment, announced today the opening of Lucky Strike Miami, the second new build using the Lucky Strike brand since it was acquired in September.

Key Points:

Bowlero Corporation (NYSE: BOWL), the global leader in bowling entertainment, announced today the opening of Lucky Strike Miami, the second new build using the Lucky Strike brand since it was acquired in September.
Lucky Strike Miami is located in the heart of Downtown Miami within Miami Worldcenter, a 27-acre, $6 billion mixed-use destination transforming Miami’s urban core with world-class shopping, dining, hospitality, and residential options, just steps away from the Kaseya Center, home to the Miami Heat.
“Not only are we thrilled to be welcoming Lucky Strike to Miami Worldcenter, but we are excited to be bringing the beloved bowling brand back to Miami once again following its nearly decade-long run on Miami Beach,” said Nitin Motwani, Managing Partner of Miami Worldcenter Associates.
“Lucky Strike will not only enhance Downtown Miami’s status as a family-friendly destination, but it will also be a wonderful complement to Miami Worldcenter’s various food, beverage, and entertainment options.”
Lev Ekster, President of Bowlero Corp., said in closing “Lucky Strike Miami embodies the vibrant ambiance of Miami, redefining the bowling experience for guests of all ages.

Bowlero Promotes Long-Time Executive Lev Ekster to President

Retrieved on:

Tuesday, January 16, 2024

General Entertainment, Entertainment, Sports, Bowling, JD, League, Corporation, Business administration, Information technology, Ithaca College, Growth, Bowlero Corporation, AMF, New York Law School

Bowlero Corporation (NYSE: BOWL), the global leader in bowling entertainment, announced today the naming of Lev Ekster, 40, as President of Bowlero Corp. Mr. Ekster has led the expansion of the Professional Bowlers Association (“PBA”) along with the Amusements and Leagues departments and most recently, Information Technology.

Key Points:

Bowlero Corporation (NYSE: BOWL), the global leader in bowling entertainment, announced today the naming of Lev Ekster, 40, as President of Bowlero Corp. Mr. Ekster has led the expansion of the Professional Bowlers Association (“PBA”) along with the Amusements and Leagues departments and most recently, Information Technology.
He will report to Thomas Shannon, Founder, Chairman and CEO of Bowlero, and be responsible for daily management of Center Operations.
To further optimize the company’s operations, Mr. Ekster has been promoted to President of Bowlero.
Mr. Ekster has an undergraduate degree in Business Administration from Ithaca College and a JD from New York Law School where he graduated Cum Laude.

Bowlero Announces 20th Center Acquisition in Fiscal 2024, Opens New California Lucky Strike and Share Repurchase Update

Retrieved on:

Tuesday, January 16, 2024

Sports, Bowling, General Entertainment, Other Entertainment, Entertainment, Entertainment center, Corporation, Share repurchase, Bowl game, Bowlero Corporation, Acquisition, IPO, FY, Growth

During the second quarter of fiscal 2024, Bowlero Corp. completed the acquisitions of Niles Bowling center in Niles, IL and BAM!

Key Points:

During the second quarter of fiscal 2024, Bowlero Corp. completed the acquisitions of Niles Bowling center in Niles, IL and BAM!
The total FY 2024 investment in acquisitions thus far, including the 14 Lucky Strike centers is $145.9 million.
This is Bowlero Corp.'s 52nd center in California and the fifth Lucky Strike branded center in the state.
Bowlero Corp. anticipates continuing its share repurchase program through the balance of fiscal 2024 and beyond, subject to market and other conditions.

Bowlero Announces First Quarter Results for Fiscal Year 2024

Retrieved on:

Tuesday, November 7, 2023

General Entertainment, Entertainment, Sports, Bowling, Adjustment, Sale, Event, NYSE, Lucky Strike, Vici Properties, Partnership, Webcast, VICI, Total, Video game, Bowlero Corporation

Bowlero Corp. (NYSE: BOWL) (“Bowlero” or the “Company”), the world’s largest owner and operator of bowling centers, today provided financial results for the first quarter of the 2024 Fiscal Year, which ended on October 1, 2023.

Key Points:

Bowlero Corp. (NYSE: BOWL) (“Bowlero” or the “Company”), the world’s largest owner and operator of bowling centers, today provided financial results for the first quarter of the 2024 Fiscal Year, which ended on October 1, 2023.
Because our first quarter is typically our seasonally lowest quarter, we used this time to test a variety of promotions and new bundled pricing structures.
The Company reiterated financial guidance for fiscal year 2024 provided on September 11, 2023.
The Company expects second quarter fiscal year 2024 to have Revenue Excluding Service Fee Revenue of $295 million to $310 million and Adjusted EBITDA of $100 million to $110 million.

Gaming Market size to grow by USD 102.13 billion from 2022 to 2027, The growing adoption of AR and VR games to drive market growth - Technavio

Retrieved on:

Monday, November 6, 2023

NEW YORK, Nov. 5, 2023 /PRNewswire/ -- The gaming market size is forecast to increase by USD 102.13 billion from 2022 to 2027.

Key Points:

NEW YORK, Nov. 5, 2023 /PRNewswire/ -- The gaming market size is forecast to increase by USD 102.13 billion from 2022 to 2027.
The market is expected to be progressing at a CAGR of 9.12%, according to a recent market study by Technavio.
Therefore, increasing adoption of AR and VR games will drive the growth of the market during the forecast period.
The market share growth by the casual gaming segment will be significant for overall market growth during the forecast period.

VICI Properties Inc. Announces Third Quarter 2023 Results

Retrieved on:

Wednesday, October 25, 2023

VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended September 30, 2023.

Key Points:

VICI Properties Inc. (NYSE: VICI) (“VICI Properties” or the “Company”), an experiential real estate investment trust, today reported results for the quarter ended September 30, 2023.
Total revenues for the quarter included $131.3 million of non-cash leasing and financing adjustments and $18.2 million of other income.
AFFO attributable to common stockholders was $547.6 million for the quarter, an increase of 16.4% compared to $470.7 million for the quarter ended September 30, 2022.
AFFO per share was $0.54 for the quarter, an increase of 10.7% compared to $0.49 for the quarter ended September 30, 2022.

Bowlero Completes $432.9 Million Sale-Leaseback with VICI Properties

Retrieved on:

Thursday, October 19, 2023

Sports, Events, Concerts, Bowling, General Entertainment, Entertainment, EBITDA, Growth, Wells Fargo, Sale, Acquisition, NYSE, Lease, CPI, Partnership, VICI, Commercial property, Management, Bowlero Corporation

Bowlero Corp. (NYSE: BOWL) (“Bowlero”), the global leader in bowling entertainment, today completed a transaction with VICI Properties Inc. (“VICI”) relating to the transfer of land and real estate assets of 38 Bowling Entertainment Centers across 17 states for aggregate value of $432.9 million.

Key Points:

Bowlero Corp. (NYSE: BOWL) (“Bowlero”), the global leader in bowling entertainment, today completed a transaction with VICI Properties Inc. (“VICI”) relating to the transfer of land and real estate assets of 38 Bowling Entertainment Centers across 17 states for aggregate value of $432.9 million.
Bowlero entered into a triple-net master lease agreement with VICI (the “Lease”).
Bowlero expects the Lease to be treated as a long-term lease obligation with no effect on EBITDA.
Thomas Shannon, Chairman, Founder and CEO of Bowlero, said, “This transaction marks the beginning of a long-term, valuable partnership with VICI.

VICI Properties Inc. Completes Acquisition of 38 Bowling Entertainment Centers in Sale-Leaseback Transaction With Bowlero Corp.

Retrieved on:

Thursday, October 19, 2023

VICI Properties Inc. (NYSE: VICI) (“VICI Properties,” “VICI” or the “Company”), an experiential real estate investment trust, today announced that it has acquired the real estate assets of 38 bowling entertainment centers (the “Bowlero Portfolio”) from Bowlero Corp. (NYSE: BOWL) (“Bowlero”) in a sale-leaseback transaction for an aggregate purchase price of $432.9 million.

Key Points:

VICI Properties Inc. (NYSE: VICI) (“VICI Properties,” “VICI” or the “Company”), an experiential real estate investment trust, today announced that it has acquired the real estate assets of 38 bowling entertainment centers (the “Bowlero Portfolio”) from Bowlero Corp. (NYSE: BOWL) (“Bowlero”) in a sale-leaseback transaction for an aggregate purchase price of $432.9 million.
Bowlero is a global leader in bowling entertainment, media, and events and is the largest operator of bowling centers in North America.
Simultaneous with the closing of the transaction, VICI Properties entered into a triple-net master lease agreement with Bowlero (the “Lease”).
Diversifies tenant base and geographic reach: The acquisition of the Bowlero Portfolio expands VICI’s portfolio with 38 bowling entertainment centers across 17 states, representing 11 new states for VICI – seven of which do not currently have commercial casino gaming operations.

Bragar Eagel & Squire, P.C. Is Investigating Xponential, Bowlero, and Advance Auto Parts and Encourages Investors to Contact the Firm

Retrieved on:

Tuesday, October 3, 2023

P.C, AAP, Geisler, Investment, Advance Auto Parts, Research, House, News, NYSE, Cryptocurrency, Audit, Bowlero Corporation

NEW YORK, Oct. 02, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Xponential Fitness, Inc. (NYSE: XPOF), Bowlero Corp. (NYSE: BOWL), and Advance Auto Parts, Inc. (NYSE: AAP).

Key Points:

NEW YORK, Oct. 02, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Xponential Fitness, Inc. (NYSE: XPOF), Bowlero Corp. (NYSE: BOWL), and Advance Auto Parts, Inc. (NYSE: AAP).
Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices.
Xponential purports to be the largest global franchisor of boutique fitness brands and went public on July 21, 2021 at $12.00 per share.
faced in the first quarter to continue.” Advance Auto Parts further revealed that it was cutting its quarterly dividend by 84% “to provide enhanced financial flexibility.”
For more information on the Advance Auto Parts investigation go to: https://bespc.com/cases/AAP

Bowlero Completes Acquisition of Lucky Strike

Retrieved on:

Monday, September 18, 2023

General Sports, Sports, Bowling, Heart, City, Growth, NYSE, Transaction, Bowlero Corporation

Bowlero Corp. (NYSE: BOWL) (“Bowlero” or the “Company”), the world’s largest owner and operator of bowling centers, today announced the close of its previously announced agreement to acquire Lucky Strike Entertainment, LLC (“Lucky Strike”) in an all-cash transaction valued at approximately $90 million.

Key Points:

Bowlero Corp. (NYSE: BOWL) (“Bowlero” or the “Company”), the world’s largest owner and operator of bowling centers, today announced the close of its previously announced agreement to acquire Lucky Strike Entertainment, LLC (“Lucky Strike”) in an all-cash transaction valued at approximately $90 million.
With the completion of the transaction, Bowlero has acquired all 14 Lucky Strike bowling centers, increasing the Company’s national footprint to 345 centers in 36 states.
Thomas Shannon, Founder, Chief Executive Officer and President of Bowlero, said, “We welcome Lucky Strike to the Bowlero family.
All 14 of the Lucky Strike centers are located in prime cities and areas across the country and we expect them to be top-performers within our business.”
“We look forward to bringing the proven and successful Bowlero operating ethos to the world-class Lucky Strike brand and portfolio.